Re: German real wages in the Depression

[Jim Devine <jdevine03@xxxxxxxxx>]

On 6/8/05, tom walker <lumpoflabour@xxxxxxxx> wrote:
> I'm talking about the 1943 note "The Long-Term Problem
> of Full Employment" (and the similarly themed letter
> to T.S. Eliot) that I previously posted under the
> heading "Keynes: 'Less work is the ultimate solution'"
> 
> But how can you "totally ignore" something and yet
> "see them as... foibles"? 

I said other people besides myself totally ignore something or see
them as foibles. Basically, most orthodox economists -- including most
Keynesians -- ignore the history of economic thought altogether
(except to cherry-pick a few quotes from Smith or whomever in order to
back up one's political biases) and see all good economics as
involving mathematics or econometrics, so that all new good economics
involves building on, contradicting, or verifying previous theorems or
empirical studies.

JD